(By Balachander) Coca-Cola Co. (NYSE: KO) said it will invest US$1.3 billion in Chile from 2012 to 2016, including $200 million to construct a new bottling plant in Renca, Chile.
The beverage giant announced the investment plan during opening of the new Coca-Cola Andina bottling plant in Renca.
"This new plant is aligned with the vision we have at Coca-Cola Andina to be a benchmark of sustainability – a very attractive company with sustainable development and innovation," commented Coca-Cola Andina President Juan Claro.
According to the company, the new Coca-Cola Andina plant covers 243,000 square meters and houses 10 production lines, which can be expanded to 12. Ninety percent of the building materials used in construction of the facility can be recycled at the end of their life cycle. The plant's design also optimizes the use of water and energy.
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Andina commenced operations in 1946 and today its franchises cover territories in Argentina, Brazil, Chile, and Paraguay, in which it serves roughly 240,000 customers and a population of more than 47 million people.
KO shares traded 0.03 percent higher at $36.44 on Friday.